All You Need To Know About GST
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Transcript of All You Need To Know About GST
All You NeedTo Know About GST
Concept Of GST
What Next
Comprehensive and unified taxation systemthat aims to replace most indirect taxes
Will be levied both on goods and services
The Bill has been tabledin Lok Sabha
on Dec 19, 2014
The Govt hopes to get theBill passed in the upcoming
budget session ofParliament in Feb 2015
The Govt aims to rollout GST fromApril 1, 2016
Structure of GST
Central GST wouldsubsume:
Central excise duty,service tax and additionalcustoms duties
State GST wouldsubsume:
VAT, entertainment tax,luxury tax, lottery taxes
Dual Structure : Central GST & State GST
PASSED
TAX
GST
12.36%
2%
CST
Service TAX
VAT
Excise
Additional Duties of
Customs
Entry taxes
To know more about GST and its impact on you:Contact Rajeev Dimri, Leader, Indirect Tax, BMR & Associates LLP, GurgaonE: [email protected], D: +91 124 669 5050
Benefits To TheCorporate & Economy
Simplifies the indirect tax regime
NCAEAR predicts GDP growth of .9 to 1.7percent with implementation of GST
Manufacturing goods in India will becomemore competitive
Removal of cascading impact of multipleindirect taxes likely to make goods cheaperunder GST regime
Numerous levies would be subsumed undera simplified Dual GST structure
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